Mortgage Fraud Blog is the premier website for news and information on mortgage fraud and real estate fraud throughout the United States.
Rachel Dollar, the editor of Mortgage Fraud Blog, is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors. She is an author and a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is a shareholder with the law firm of Smith Dollar, PC, is licensed to practice law in California and maintains offices in Santa Rosa, California. Email Ms. Dollar
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Pennsylvania Co-Conspirator Charged in Mortgage Fraud and ID Theft
Hasan Talib aka Hasan Shoatz, 33, Philadelphia, Pennsylvania, was charged by information with 3 counts of wire fraud, 5 counts of mail fraud, 1 count of bank fraud, 3 counts of aggravated identity theft and 2 counts of false statement in loan application. The charges are related to mortgage fraud, along with other criminal activity, that Talib is alleged to have engaged in along with Micah Solomon a/k/a “Curtis Oliver,” a/k/a “Reginald Pettaway,” 33, Cheltenham, PA. Solomon was previously indicted.
According to the information, Solomon was the owner and/or operator of ZII Investments a/k/a Z2 Investments, a company that purported to be engaged in real estate transactions. Talib was a partner and associate of Micah at ZII.
In or about August 2005, according to the information, Solomon, working through an individual identified only as W.L., had a loan application prepared for and individual identified as C.E. to purchase 228B S. Bonsall Street, Philadelphia, Pennsylvania. The true C.E. lived in Massachusetts and was a victim of identity theft. The loan documents stated that C.E. was the purchaser and was employed by ZII. Long Beach Mortgage approved two mortgages for 100% of the purchase price totaling $285,000. Tamika Pollard was paid to appear at the closing of the property and act as C.E. Talib accompanied Pollard to the closing where Pollard claimed to be C.E. and fraudulently signed the settlement documents in the name of C.E. according to the information. At the settlement, ZII received a check for $87,687. Of those funds, Talib received $20,000 and Pollard received $4,000. No mortgage payments were ever made.
The information further alleges that in September 2005, Solomon asked W.L. to prepare fake documents, including pay stubs and a W-2 for M.J., another victim of identity theft, to purchase property. Solomon met with a real estate agent to purchase property at 6707 N. 7th Street, Philadelphia, Pennsylvania and introduced Talib as M.J. The loan documents stated that M.J. was employed at ZII. Citizens Bank approved a $277,349.09 mortgage loan. An individual identified as A.J. appeared at closing with a fraudulent power of attorney for stolen identity M.J. and executed the closing documents. No mortgage payments were ever made.
Charges in the information also relates to allegations that Talib was involved in a scheme using stolen identities and false information on loan applications to purchase and lease luxury automobiles.
If convicted Talib faces a maximum possible sentence of 256 years imprisonment, $5,700,000 fine, $1,400 special assessment, and 5 years supervised release.
Failed Mortgage Firm Trustee Allowed $50,000 in Fees Union Leader
U.S. Bankruptcy Court Judge J. Michael Deasy will approve $50,000 in legal fees for the trustee of failed mortgage brokerage businesses Financial Resources Mortgage Inc. and CL&M Inc.
Bend Oregon Event to Help Homeowners Prevent Foreclosures Oregon.Gov
As part of an ongoing effort to help homeowners avoid foreclosure, state agencies are organizing a foreclosure-prevention event in Bend on Saturday, March 27, 2010.
Shelbyville Man Gets 2-Year Sentence For Loan Fraud Chattanoogan.Com
Prosecutor Gary Humble said the lost was approximately $2.3 million in the mortgage fraud involving hundreds of homes in the Shelbyville area.
Lend America, VP Ashley Banned from FHA Housing Wire
Michael Ashley, the embattled former vice president of Federal Housing Administration (FHA)-backed mortgage originator Lend America, and the company he worked for, were permanently banned from doing business in the industry last week.
Countrywide Tries to Pin Blame on Insurer Court House News
Countrywide Home Loans demands $111 million from Triad Guaranty Insurance, claiming Triad is trying to blame mortgage lenders for the insurer's role in the housing bubble and collapse.
Investors Say They Were Swindled in Property Scheme Fox 13 Now
Utah Division of Consumer Protection is joining forces with a few investors who claim they have been cheated by an agency called "Utah Mini Ranches.
Greenfield Man Accused of Housing Scam The Republic
A former real estate agent conned at least eight people by renting them properties actually owned by a federal agency and then running off with their deposits, prosecutors said.
Appraisal Institute Opposes Obama Administration's Plan for Homeowner 'Short Sales' PR News Wire
Citing concerns about increased mortgage fraud, four organizations representing more than 35,000 real estate appraisers today voiced their opposition to changes to an Obama administration program that will encourage "short sales" of homes.
Ownership Rights to Get Another Look TBO.Com
State lawmakers may beef up protections of property owners' rights by rewriting a law this spring that is at the center of a case of alleged fraud in Pasco County.
Thursday, February 18, 2010 F. Jeffrey Miller Trial Continued Testimony
As reported by Anne Mitchell, who viewed the trial:
Angela Parenza worked for Jeff Miller as the office manager for 7 or 8 years beginning in 1998. Parenza was indicted along with Miller and pled guilty to conspiracy to commit bank fraud and money laundering. Parenza testified that Miller or his contractors allegedly preferred to build all the...
Wednesday, February 10, 2010 F. Jeffrey Miller Trial Coverage Continued - Witness Testimony
Steve Middleton Testimony - Coverage Provided by Anne Mitchell
The Government continued in its cross examination of Steve Middleton. He was shown several HUD-1 statements involving sales of homes located in Overland Park, KS, and Olathe, KS. The HUD statements each allegedly showed line items of payments to (James) Moser & Associates, LLC's...
Monday, February 01, 2010 F. Jeffrey Miller Trial Coverage - Continued Witness Examination
According to Anne Mitchell, who is present in court for the trial:
Next Witness: Kelly Sanford
Kelly Sanford of the Federal Reserve was a short witness for the Government. Sanford manages electronic payments between banks and member financial institutions. He was shown copies of wire transfers and asked whether they coincided with the counts in...
Wednesday, January 27, 2010 F. Jeffrey Miller Trial - Prosecution Witnesses Continued
According to Anne Mitchell, who is viewing the trial:
January 13, 2010
Witness: Rick Hayes
Rick Hayes testified that on the day that he closed on his Miller Enterprise home, he received a phone call from the Kansas Banking Commission informing him that his loan was fraudulent. After the Hayes responded to a classified ad, they met with John...
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The information and notices contained on Mortgage Fraud Blog are intended to summarize recent developments in mortgage fraud cases and mortgage banking matters nationwide. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about mortgage banking, mortgage fraud matters or who believe they require legal counsel should seek the advice of an attorney. The creators, editors and sponsors of Mortgage Fraud Blog do not intend to create a confidential relationship or an attorney-client relationship by communication via or arising from this site.
Rachel Dollar, the editor of Mortgage Fraud Blog, is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors. She is an author and a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is a shareholder with the law firm of 
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